Everi (NYSE:EVRI) Reaches New 1-Year High – What’s Next?

Everi Holdings Inc. (NYSE:EVRI)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.10 and last traded at $14.09, with a volume of 46004 shares traded. The stock had previously closed at $14.08.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Everi from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Everi currently has an average rating of “Hold” and a consensus price target of $12.83.

Everi Stock Up 0.2%

The company’s fifty day simple moving average is $13.80 and its 200 day simple moving average is $13.65. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The firm has a market capitalization of $1.23 billion, a PE ratio of 94.11 and a beta of 1.31.

Everi (NYSE:EVRI) last released its earnings results on Monday, May 12th. The credit services provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Everi had a net margin of 1.72% and a return on equity of 5.47%. The firm had revenue of $181.30 million during the quarter, compared to analysts’ expectations of $193.22 million. Analysts anticipate that Everi Holdings Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Everi

In other Everi news, Director Geoffrey P. Judge sold 7,332 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.73, for a total transaction of $100,668.36. Following the completion of the transaction, the director now owns 84,240 shares of the company’s stock, valued at approximately $1,156,615.20. This trade represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Todd A. Valli sold 30,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $13.75, for a total value of $412,500.00. Following the transaction, the chief accounting officer now directly owns 57,413 shares of the company’s stock, valued at $789,428.75. This represents a 34.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Everi in the 1st quarter worth about $16,689,000. AQR Arbitrage LLC raised its position in shares of Everi by 55.3% in the 1st quarter. AQR Arbitrage LLC now owns 2,920,703 shares of the credit services provider’s stock worth $39,926,000 after purchasing an additional 1,040,501 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Everi by 85.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,953,037 shares of the credit services provider’s stock worth $26,698,000 after purchasing an additional 900,250 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Everi by 65,161.1% in the 1st quarter. Pacer Advisors Inc. now owns 872,541 shares of the credit services provider’s stock worth $11,928,000 after purchasing an additional 871,204 shares during the last quarter. Finally, Highbridge Capital Management LLC raised its position in shares of Everi by 147.8% in the 4th quarter. Highbridge Capital Management LLC now owns 1,392,408 shares of the credit services provider’s stock worth $18,811,000 after purchasing an additional 830,470 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

About Everi

Everi Holdings Inc develops and supplies entertaining game content, gaming machines, and gaming systems and services for land-based and iGaming operators in the United States, Canada, and internationally. It operates in Games and Financial Technology Solutions segments. The company offers classic mechanical reel games and video reel games, as well as TournEvent of Champions, a national slot tournament; and sells gaming equipment and player terminals, licenses, game content, and ancillary equipment, such as signage and lighting packages.